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The ppp program. they are flaunting it. look at some of these pictures. one guy bought himself a lamborghini. what is the thought process behind that? the problem with the unemployment insurance, the government gave $860 billion to the 50 states but said they were not liable for any fraud that may occur. so the state had to hire hundreds of people to disburse that money. no one ever checked it out. criminals realized. who has all the money? the government. who is the easiest person to steal from? the government. the government has become a target of people because they know they can get away with it. no bank pore company in america with losing $80 billion to ....
Commerce department shows the trade deficit increased 27% in 2021 to an all-time high of $860 billion, underscoring, first of all, a lot of spending and buying, but also the country s strong dependence on imports from china and other countries. this as new data also shows china is failing to hold up its end of the trade deal it made with the trump administration. joining us now is brian dietz, director of white house economic council. in addition to the overall trade deficit numbers, the trade deficit specifically with china increased 14.5%. so what concerns do you have with that kind of imbalance with the country that the white house considers the u.s. s greatest competitor? well, as you said, john, the strength of those numbers reflects the strength of the economic recovery in the united states. we saw the strongest period of economic growth last year in nearly 40 years. it is being driven by strong ....
thank you so much. reporter: but lowe s has been running sales since october, trying to capitalize on the 46% of shoppers who plan to buy earlier than normal this year. we re seeing consumers really move up their holiday shopping time line, not just for this historical trend, but also because of some concerns around supply chain disruptions and inventory issues. reporter: and there s no indication 30-year record inflation is stopping shoppers from spending. we are expecting for the overall holiday shopping season that retail sales will grow somewhere between 8.5 and 10.5%. which is certainly much higher growth than the level of inflation. reporter: and it is an not just growth, but record spending. up to nearly $860 billion in the last two months of 2021. 2 million more people are expected to shop from ....
Capitalize from the 46% of shoppers who plan to buy earlier than normal this year. we re seeing consumers really move up their holiday shopping time line, not just for this historical trend but also because of some concerns around supply chain disruptions and inventory issues. reporter: and there is no indication 30 year record inflation is stopping shoppers from spending. we re expecting for the overall holiday shopping season that retail sales will grow somewhere between 8.5% and 10.5%. which is certainly much higher growth than the level of inflation. reporter: and it is not just growth, but record spending. up to nearly $860 billion in the last two months of 2021. 2 million more people are expected to shop from thanksgiving day through cyber monday this year compared to last. the trends we re certainly ....
Shopping timeline, not just for this historical trend but also because of some concerns around supply chain disruptions and inventory issues. reporter: and there s no indication 30-year record inflation is stopping shoppers from spending. we are expecting that retail sales will grow between 8.5 and 10.5%, much higher growth than the level of inflation. reporter: and it s not just growth but record spending. up to $860 billion in the last two months of 2021. 2 million more people are expected to shop from thanksgiving day through cyber monday this year compared to last. those trends we are seeing as it relates to how the shopping pattern is at lowe s right now. reporter: but the surge in ....